Analysts Set IDEX Co. (NYSE:IEX) Target Price at $212.50

Shares of IDEX Co. (NYSE:IEX) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $212.50.

IEX has been the topic of several research analyst reports. Mizuho set a $185.00 target price on shares of IDEX in a research report on Friday, May 16th. DA Davidson decreased their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. Stifel Nicolaus raised their target price on shares of IDEX from $192.00 to $208.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada raised their target price on shares of IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd.

IDEX Price Performance

IDEX stock opened at $180.55 on Friday. The stock has a market capitalization of $13.64 billion, a P/E ratio of 27.15, a P/E/G ratio of 1.98 and a beta of 1.07. IDEX has a 12-month low of $153.36 and a 12-month high of $238.22. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The firm’s 50-day moving average is $176.73 and its two-hundred day moving average is $198.56.

IDEX (NYSE:IEX) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The business had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $807.25 million. During the same period last year, the company earned $1.88 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts predict that IDEX will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a $0.71 dividend. This is a positive change from IDEX’s previous quarterly dividend of $0.69. The ex-dividend date is Monday, May 19th. This represents a $2.84 annualized dividend and a yield of 1.57%. IDEX’s dividend payout ratio (DPR) is presently 45.01%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Banque de Luxembourg S.A. purchased a new position in IDEX in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of IDEX by 81.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 64 shares during the period. UMB Bank n.a. raised its stake in shares of IDEX by 63.5% during the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 87 shares during the period. Quarry LP purchased a new stake in shares of IDEX during the fourth quarter valued at approximately $49,000. Finally, SVB Wealth LLC purchased a new stake in shares of IDEX during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.